WTI Roadmap Sep 2017
Updated
Signs of strength
Note
Feb 2017 downtrend resistance brokenNote
This long consolidation appears to shape as a triangle so farNote
US could exit Iran deal as early as next month. Quarterly certification in mid Month, Trump was aggressive yesterday. Could that be the MidEast catalyst I have been looking for?Note
More indirect signs of rising MidEast tension plus LT cycles turning bullish. Good so farNote
Solid, more and more triangle like which of course means one larger wave missingNote
Good bounce from 55 wma and Iranian decision coming soon. Appears to me triangle on the way to be completedNote
Oil appears to be ready for a new upleg or close to completing the consolidationNote
Next week we have Oct 26 and oil is ready to breakout finally from this long long consolidationNote
Oil at multiyear downtrend resistance. If overcome (base case) then upside is open initially to mid/high 60s
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